MIRA
INFORM REPORT
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Report Date : |
28.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
HI-TECHNOLOGY TRADING INC |
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Registered Office : |
Nihombashi Daiichi Bldg 9F, 2-7 Nihombashi-Ohdenmacho Chuoku Tokyo
103-0011 |
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Country : |
Japan |
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Financials (as on) : |
30.11.2006 |
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Date of Incorporation : |
Sept 1980 |
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Legal Form : |
Limited Company (Kabushiki Kaisha) |
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Line of Business : |
Import, wholesale of microwave components, electronics components,
optical equipment |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
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Maximum Credit Limit : |
Yen 5 millions |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
name
HI-TECHNOLOGY TRADING INC
REGD NAME
KK High Technology
MAIN OFFICE
Nihombashi Daiichi Bldg 9F, 2-7 Nihombashi-Ohdenmacho Chuoku Tokyo
103-0011 JAPAN
Tel: 03-5614-8221
Fax: 03-5614-8222
*.. Registered and Headquarters at: 5-72-6 Asakusa Taitoku Tokyo
111-0032
URL: http://www.hi-technology.co.jp/
E-Mail address: sales@hi-technology.co.jp
ACTIVITIES
Import, wholesale of microwave components, electronics
components, optical equipment
BRANCHES
Nil
OFFICER(S)
SHINTARO MIYATA, PRES
Yen Amount: In
million Yen, unless otherwise stated
SUMMARY
FINANCES R/WEAK A/SALES Yen 330 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND UP WORTH Yen 48 M
STARTED 1980 EMPLOYES 5
COMMENT
TRADING HOUSE SPECIALIZING IN MICROWAVE & ELECTRONICS COMPONENTS. FINANCIAL SITUATION CONSIDERED RATHER WEAK AND DOUBTFUL FOR CREDIT ENGAGEMENTS: US$60,000 / O/A 30 DAYS.
MAX CREDIT LIMIT: YEN 5 MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established by Shintaro Miyata in order to make most of his previous experience in the subject line of business. This is a trading house specializing in import and wholesale of microwave & millimeter wave components, electronics components, optical apparatus, etc. Also offers technical support. Goods are imported from USA and Europe. Clients include major electronics mfrs, automakers, research institutes, universities, government agencies, etc. Financials are only partially disclosed.
FINANCIAL INFORMATION
Financials
are only partially disclosed.
The sales volume for Nov/2006 fiscal term amounted to Yen 330 million, a 16% up from Yen 284 million in the previous term. After inventory adjustment in the previous term, the business came back to normal earnings level. Business is seen increasing. Weaker Yen also contributed. The net profit was posted at Yen 6 million, up from Yen 5 million a year ago.
For the current term ending Nov 2007 the net profit is projected
to mark time at Yen 6 million, on a 2% rise in turnover, to Yen 350 million.
The financial situation is considered RATHER WEAK but should
be good for MODERATE business engagements.
The proposed amount is considered TOO HIGH from the recent financial
status. Max credit limit is estimated
at Yen 5 million, on 30 days normal terms.
REGISTRATION
Date Registered: Sept
1980
Legal Status: Limited
Company (Kabushiki Kaisha)
Authorized: 80,000
shares
Issued: 20,000
shares
Sum: Yen
10 million
Major shareholders (%): Shintaro Miyata (100)
Nothing detrimental is known as to his commercial morality.
OPERATION
Activities: Imports and wholesales (100%):
Microwave & millimeter-wave components: waveguide components, coaxial components, integrated millimeter-wave radar-front end, rotary joints, waveguide parts & compo- nents, couplers, isolators, amplifiers;
Electronic components: broadband amplifiers, Attenuators, ECL Terminators, Bias Tees, Transformers, coaxial components responding to picoseconds pulse;
Optical equipment:
band pass filters, long & short wave filters, filters for astronomy, laser
& electro-optics, integrating sphere systems & instruments, circular
light mirrors, reflector mirrors, actinometers, integrating spheres, other.
Clients: [Electronics mfrs, automakers, research labs, universities, government agencies] Denso Corp, Hitachi Medical, Fuji Photo Film, Honda Motor, Japan Radio, Kyocera, Mitsubishi Electric, NEC, Japan Broadcasting Corp (NHK), Matsushita Electric Ind, Sony Corp, Toshiba Corp, Toyobo, Kyoto Univ, Univ of Tokyo, Univ of Electro-Communications, Japan Atomic Energy Research, National Space Development Agency, Japan Defense Agency, National Institute of Polar Research, other.
No. of accounts: 200
Domestic areas of activities: Centered in greater-Tokyo
Suppliers: [Mfrs, wholesalers] Imports from Apollo Microwave
Inc, Center Technologies, Victory Microwave, Custom Microwave Ind, Terabeam
Corp, Vertex, Microtech Inc, Pico-second Pulse Labs, NEP Corp, Analog Modules Inc,
Andover Corp, Spectrogen, Logus Microwave Corp, JCA Technology Inc,
other from USA, Europe, etc.
Payment record: Regular
Location: Business area in Tokyo. Office premises at the caption address are leased and maintained
satisfactorily.
Bank References
Mizuho Bank (Kaminarimon)
SMBC (Asakusa)
Relations: Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
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30/11/2007 |
30/11/2006 |
30/11/2005 |
30/11/2004 |
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Annual
Sales |
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350 |
330 |
284 |
321 |
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Recur.
Profit |
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.. |
.. |
.. |
.. |
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Net
Profit |
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6 |
6 |
5 |
15 |
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Total
Assets |
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N/A |
N/A |
N/A |
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Net
Worth |
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48 |
45 |
40 |
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Capital,
Paid-Up |
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10 |
10 |
10 |
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Div.P.Share(¥) |
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0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
3.33 |
16.19 |
-11.53 |
15.88 |
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Current Ratio |
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.. |
.. |
.. |
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N.Worth Ratio |
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.. |
.. |
.. |
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N.Profit/Sales |
1.71 |
1.81 |
1.76 |
4.67 |
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Notes: Financials are only partially disclosed.
Forecast (or estimated) figures for the 30/11/2007 fiscal
term.
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)